Mynaric Now Expects FY23 IFRS-15 Revenue To Remain Around The Same Level As 2022 Revenue Of €4.4M Compared To Previous Guidance Of A Significant Increase
Portfolio Pulse from Benzinga Newsdesk
Mynaric (NASDAQ:MYNA) has updated its FY23 guidance, expecting IFRS-15 revenue to remain around the same level as 2022 revenue of €4.4M, contrary to previous guidance of a significant increase. The company also expects more than 500 units in backlog by the end of 2023, and full-year 2023 guidance of more than EUR 30 million for cash-in from customer contracts. The guidance decrease is due to the production delay of CONDOR Mk3 that was previously scheduled to start in Q4 2023.
November 10, 2023 | 12:12 am
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Mynaric's updated FY23 guidance indicates a stagnation in IFRS-15 revenue, contrary to previous expectations of a significant increase. This is due to the delay in production of CONDOR Mk3.
The company's updated guidance indicates a stagnation in revenue, which is a negative signal for investors. This is due to the delay in production of CONDOR Mk3, which was previously scheduled to start in Q4 2023. This delay could potentially impact the company's financial performance and hence, its stock price.
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